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to compromise. i'm open to new ideas. i'm committed to solving our fiscal challenges. chris: but john boehner is holding firm against one of the president's main campaign pledges. >> everyone wants to get our economy moving again, everyone wants to get more americans back to work again. raising tax rates will slow down our ability to create the jobs that everyone says they want. chris: in your book, the price of politics, a heck of a book. you talk about how debt negotiations fell apart the last time, we tried it in the summer of 2011. will the speaker, we just saw, have the strength to lead his party even if he has to fight for the tea party? >> their camouflage is tax reform and they're going to do that over time. so the rates could come down. the really interesting thing is when you examine the detail of this, last year they were close. they actually could have worked out some agreement and it blew up because of the president asking for more revenue and that was the limit for them. i think it is a moment of necessity to a certain extent. they can't avoid this now. chris: reporting challeng
house speaker john boehner both laid out ideas to avert the so-called fiscal cliff. tax increases and spending cuts are due to hit in january, but today it seemed the two leaders and the bipartisan deal are still worlds apart. steve handelsman is on capitol hill with more on that. steve? >> you got it right. this is a restart of a high-stakes negotiation between those two men. the president and the speaker. the problem is beginning today where they left off, which is far apart. in a speech at the white house, president obama claimed the election proved most americans agree with his plan. that he calls balanced. cutting spending and hiking taxes to avoid the fiscal cliff. he said he's flexible -- >> but i refuse to accept any approach that isn't balanced. i am not going to ask students and seniors and middle class families to pay down the entire deficit while people like me making over $250,000 aren't asked to pay a dime more in taxes. >> reporter: he's calling in members of congress for fiscal cliff meetings next week. but the main republican negotiator, again, will be speaker joh
reason for that wall street trouble, the so called fiscal cliff approaching this morning. john boehner says he and republicans are willing to work with president obama and democrats to reach a deal to avoid sweeping cuts and tack hikes. boehner warns that a deal won't come easily. >> we won't solve the problem of our fiscal imbalance overnight and certainly won't do it in a lame-duck session of congress and it won't be solved by taking a plunge off the fiscal cliff. what we can do is avert the cliff in a manner that serves as a down payment on and a catalyst for major solutions enacted in 2013 to begin to solve the problem. >> speaker boehner says the deal could include new tax revenue to help reduce the national debt. >>> new this morning, we've learned president obama will be making a ground breaking trip in two weeks. an official from the southeast asian country of myanmar says the president will visit on either november 18th or 19th. it will be the first ever visit to that country by a u.s. president. the obama administration is trying to encourage democracy in that country. the pr
. john boehner making comments that they also want to work together. but, again, this is the choice that we have been talking about over the last several months. spending cuts, tax increases. >> we should mention that we're also more renewed fears in europe, the greek debt crisis rearing its ugly head. >> absolutely. it's clear that greece cannot pay its bills. now we're thinking, okay, this is another pressure for the u.s. economy. so we're all waiting on some kind of compromise out of washington as well as some stability in europe. but for sure, we'll probably see some volatility going forward. doesn't really mean much, though, long-term. >> i was going to say, let's get some perspective. there was a huge drop after the president's election four years ago. but over the last four years, wall street has been up. >> that's right. over the long-term, you have to look at fundamentals. and the corporate sector right now is very strong. a lot of cash on the balance sheets, longer term earnings should be okay. but over the near term, expect some choppiness. >> maria, thank you. and i know
Search Results 0 to 3 of about 4

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